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What happens if you have no insurance on a leased vehicle and it is totaled because of your fault?
Wiki User
∙ 12y ago
What will likely happen is that you will receive a very large bill, for which you are responsible from the lease company. Failure to pay the bill or negotiate a satisfactory compensation agreement with the lessor can result in a Suit being filed against you and a possible judgment attaching to other owned property and bank accounts. Some states even allow attachment of a paycheck from your employer. Failure to come to terms may also result in a negative entry on you credit file.
Your lease agreement likely required you to maintain property coverage on the leased vehicle. Failure to do so is a violation of the lease contract you entered into and signed.
Wiki User
∙ 12y ago
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How do you determine if vehicle is totaled when burned?
A vehicle is totaled if it cost too much to repair it. Usually, insurance companies determine whether or not a vehicle is totaled.
Why would an insurance company declare a vehicle totaled?
An insurance company declares a vehicle totaled when the cost to fix the vehicle exceeds 70% or more of its market value.
What happens after your car is totaled and you only have liability?
If a car is totaled in an accident and only liability insurance is present, there is a chance that the other party's insurance will pay for the vehicle if the accident was their fault. If a car is totaled, but no others were involved, then the responsibility falls on the registered owner. This will not release the registered owner from paying for the vehicle, either, if money is still owed on the car.
Does an auto insurance company have to pay for a deaf interpreter to find a new vehicle after yours has been totaled?
What. Why would you think this is required? An insurance company will not find you a new vehicle is your is totaled, they will pay you the actual cash value of the vehicle you had.
Can I insure a car titled under my uncle in Arizona?
The answer to this question is easy and is NO. You cannot insure a vehicle that you do not own. This is very important. If you did this and totaled the vehicle, the insurance cannot pay you for the damages because you do not own the vehicle and they cannot pay your Uncle because he does not have a contract of insurance with the insurance company.
If your loaner car was totaled and you do not have insurance what should you do?
get a good job............you will (assuming you are at fault for this loss) be require to pay for the totaled vehicle.........
How do you declare the title of a vehicle you own as salvage?
can be done by insurance company at time it is totaled out by them
Does the ticketed motorist insurance Co have to replace your totaled vehicle?
'ticketed' really doesn't matter.........what matters is who is responsible or liable for the loss...........and no they do not have to 'replace' your totaled vehicle they owe you the acv (actual cash value) of your vehicle........
Can a totaled vehicle be insured again?
Once a car is totaled it is gone. Usually the insurance company takes the car for them to sell and get some extra money and if it is claimed as a totaled vehicle I would not recommend driving it on the street where you can hurt yourself or someone else.
What makes a motorcycled totaled?
When a vehicle covered by insurance gets wrecked, the insurance company looks at how much it will cost to repair. If repairing the bike costs more than it is worth, then the insurance company declares it totaled and pays for a replacement.
How do you get a car after your vehicle is damaged?
most time if the car was in an accident and is totaled you will have to by it back from your insurance company
What will insurance pay for your car if totaled?
It will pay the sum your vehicle is worth according to BLUE BOOK
